Cabral Gold Inc (TSX-V:CBR) said it has added a fifth drill rig to its program at the Cuiú Cuiú project in Brazil so it can test more regional targets at the property.
The new diamond drill rig will firstly get turning at the Indio target, around 1.5 kilometres (km) south-east of the MG gold deposit.
"During the last 12 months we have identified three new zones of near-surface gold-in-oxide mineralization at MG, PDM and Central as well as a deeper zone of hard rock gold mineralization at PDM," Alan Carter, Cabral's CEO told investors in a statement.
"This unprecedented success has meant that for the last few months the four drills that we currently have on site have been focused on drilling off these new discoveries as well as expanding the two known gold deposits. The arrival of a fifth drill rig gives us the ability to drill test more of the regional targets at Cuiú Cuiú as we seek to discover additional gold deposits within this prolific district," he added.
READ: Cabral Gold releases "highly encouraging" metallurgical results showing up to 97% gold recoveries at MG deposit
Last year, six reconnaissance reverse circulation (RC) holes were sunk at Indio but failed to test the primary target due to waterlogged ground, yet still encountered mineralized structures including 4 metres (m) at 2.5 grams per ton (g/t) gold including 1m at 8.7 g/t gold and 5m at 2.6 g/t gold, noted the firm.
A diamond rig should allow for more thorough testing of the mineralized float material sampled on surface which returned gold values ranging from between 1.5 and 137.8 g/t gold, it added.
Following the diamond drilling at Indio, the rig will move to test the Dona Moca, Cilmar and Tracaja targets, said Cabral.
Updating on exploration elsewhere at Cuiú Cuiú, the company said results were pending from six diamond holes each at MG and Central.
At Central, RC drilling aimed at further defining the extent of the gold-in-oxide blanket material, is also in progress, the firm noted, while diamond drilling continues at the recently discovered mineralized zone in basement granitic rocks at the PDM target.
Further trenching is also underway at the Machichie target where recent surface trenching 285m west of the most westerly drill hole returned 5m at 8.3 g/t gold. Results are pending.
Cabral has a 100% interest in the Cuiú Cuiú gold district located in the Tapajós region, within the state of Pará in northern Brazil. Two gold deposits have so far been defined at Cuiú Cuiú and contain 43-101 compliant Indicated resources of 5.9 million tonnes (Mt) at 0.90 g/t (200,000 ounces) and inferred resources of 19.5Mt at 1.24 g/t (800,000 ounces).
Contact the author at giles@proactiveinvestors.com